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HC

Hourglass Capital Portfolio holdings

AUM $480M
1-Year Est. Return 32.35%
This Fund
S&P 500
This Quarter Est. Return
+2.68%
1 Year Est. Return
+32.35%
3 Year Est. Return
+81.07%
5 Year Est. Return
+116.38%
10 Year Est. Return
+280.27%
AUM
$600M
AUM Growth
-$25.3M
Cap. Flow
-$34.9M
Cap. Flow %
-5.82%
Top 10 Hldgs %
30.54%
Holding
133
New
17
Increased
27
Reduced
47
Closed
16

Top Buys

Rank Stock Value
1
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$10.7M
2
CIE
Cobalt International Energy, Inc
CIE
+$9.44M
3
EWW icon
iShares MSCI Mexico ETF
EWW
+$8.55M
4
EWZ icon
iShares MSCI Brazil ETF
EWZ
+$8.41M
5
ELV icon
Elevance Health
ELV
+$7.32M

Top Sells

Rank Stock Value
1
NUAN
Nuance Communications, Inc.
NUAN
+$12.8M
2
M icon
Macy's
M
+$7.82M
3
MS icon
Morgan Stanley
MS
+$7.15M
4
INTC icon
Intel
INTC
+$7M
5
RAIL icon
FreightCar America
RAIL
+$6.92M

Sector Composition

Rank Sector Weight
1 Industrials 19.01%
2 Energy 17.72%
3 Financials 12.03%
4 Technology 9.2%
5 Real Estate 8.46%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAL icon
1
American Airlines Group
AAL
$8.97B
$36.9M 6.15%
1,007,834
-75,917
-7% -$2.58M
ESV
2
DELISTED
Ensco Rowan plc
ESV
$24.1M 4.02%
114,262
+6,591
+6% +$1.38M
C icon
3
Citigroup
C
$221B
$20.1M 3.35%
422,073
-76,970
-15% -$3.83M
MS icon
4
Morgan Stanley
MS
$338B
$16.7M 2.79%
536,149
-231,346
-30% -$7.15M
DHI icon
5
D.R. Horton
DHI
$39.9B
$15.5M 2.59%
717,901
-17,095
-2% -$386K
INTC icon
6
Intel
INTC
$504B
$15.3M 2.56%
594,045
-280,532
-32% -$7M
UAL icon
7
United Airlines
UAL
$37.4B
$14.9M 2.49%
334,383
-77,902
-19% -$3.5M
DAL icon
8
Delta Air Lines
DAL
$53.9B
$14.2M 2.37%
410,172
-150,228
-27% -$4.83M
OXY icon
9
Occidental Petroleum
OXY
$57.3B
$13.1M 2.18%
143,130
+68,605
+92% +$6.13M
HAL icon
10
Halliburton
HAL
$27.3B
$12.4M 2.06%
209,822
-3,878
-2% -$207K
WIN
11
DELISTED
Windstream Holdings Inc
WIN
$11.9M 1.99%
184,897
-75,763
-29% -$4.7M
CIE
12
DELISTED
Cobalt International Energy, Inc
CIE
$11.8M 1.97%
43,060
+36,367
+543% +$9.44M
EEM icon
13
iShares MSCI Emerging Markets ETF
EEM
$28.6B
$11.2M 1.87%
+273,345
New +$10.7M
ANR
14
DELISTED
Alpha Natural Resources Inc
ANR
$10.4M 1.73%
2,440,028
+422,720
+21% +$2.27M
SCCO icon
15
Southern Copper
SCCO
$143B
$9.83M 1.64%
364,352
+46,765
+15% +$1.26M
CLF icon
16
Cleveland-Cliffs
CLF
$6.25B
$9.77M 1.63%
477,436
+57,936
+14% +$1.2M
RAIL icon
17
FreightCar America
RAIL
$273M
$9.66M 1.61%
415,870
-285,500
-41% -$6.92M
SVC
18
Service Properties Trust
SVC
$1.1B
$9.54M 1.59%
66,914
+785
+1% +$104K
EWZ icon
19
iShares MSCI Brazil ETF
EWZ
$9.16B
$9.22M 1.54%
+204,833
New +$8.41M
AAPL icon
20
Apple
AAPL
$4.72T
$8.91M 1.49%
464,940
+2,380
+0.5% +$45.3K
EWW icon
21
iShares MSCI Mexico ETF
EWW
$1.88B
$8.73M 1.45%
+136,472
New +$8.55M
VZ icon
22
Verizon
VZ
$183B
$8.55M 1.43%
179,777
+40,550
+29% +$1.92M
ELOS
23
DELISTED
Syneron Medical Ltd
ELOS
$8.48M 1.41%
681,428
-157,472
-19% -$1.87M
GE icon
24
GE Aerospace
GE
$362B
$8.32M 1.39%
67,097
+14,427
+27% +$1.78M
ELV icon
25
Elevance Health
ELV
$82.3B
$8.06M 1.34%
+80,982
New +$7.32M
1
2 3 4 5

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YLHM
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NQWM
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MAM
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Hourglass Capital's Q1 2014 Portfolio in Review

As of Q1 2014, Hourglass Capital held 133 positions worth $600M, down 4% from $625M the previous quarter. Its ten largest holdings account for 31% of the portfolio.

Hourglass Capital withdrew a net $34.9M in Q1 2014, closing 16 positions and reducing 47 holdings. Its most notable exit was Nuance Communications, Inc., an estimated $12.8M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 19% of assets, up from 15% a quarter earlier, followed by Energy and Financials.

Against the trend, Hourglass Capital opened a new position in iShares MSCI Emerging Markets ETF worth $11.2M.

  • Hourglass Capital's largest Q1 2014 buy was iShares MSCI Emerging Markets ETF: 273,345 shares worth $11.2M.
  • Hourglass Capital added most to Cobalt International Energy, Inc in Q1 2014, an estimated $9.44M increase.
  • Hourglass Capital's biggest Q1 2014 reduction was Macy's, cutting an estimated $7.82M.
  • Hourglass Capital fully exited Nuance Communications, Inc. in Q1 2014, selling an estimated $12.8M.
  • Hourglass Capital's ten largest holdings make up 31% of its $600M portfolio in Q1 2014.
  • Hourglass Capital opened 17 new positions and closed 16 in Q1 2014.
  • Hourglass Capital's portfolio value fell 4% quarter-over-quarter to $600M.

Based on Hourglass Capital's 13F filing for Q1 2014, filed 6 May 2014.